Elon Musk’s Baby Shark Tweet Increased Investment Shares By 10%
Elon Musk is working his Twitter magic once again.
Disclaimer: you will get Baby Shark stuck in your head after reading this article.
South Korea-based Samsung Publishing is a major shareholder of SmartStudy, the producers of the irritable yet extremely catchy children’s song. It reportedly owns 19.43% of the South Korean educational entertainment company.
In the wake of Musk’s recent tweet, Samsung Publishing’s shares increased by 10%. Despite the name, the publishing house has no connections to electronics giant Samsung.
Responding to a tweet posted on South Park’s official page, Musk wrote, ‘Baby Shark crushes all! More views than humans,’ alongside a link to the song. At the time of writing, the viral YouTube song has generated a staggering 8,681,353,444 views. As of November last year, it was the most-viewed YouTube video in all of the video platform’s history.
In light of the tweet, at the end of Asia’s trading yesterday, June 1, Samsung Publishing’s stock closed at around 6% higher, Markets Insider reports, after peaking at 10% at one point.
Yesterday’s increase comes after the company experienced a surge of more than 97% since the start of the year, according to CNBC. By the end of yesterday, its shares were sitting at 47,300 Korean won.
While Samsung Publishing’s value has skyrocketed this year, it’s still down from its year-to-date high. In April, it hit 59,000 Korean won.
Despite this, the company is still doing pretty well with the help of Baby Shark’s success. According to Business Standard, Samsung Publishing’s stock has more than quadrupled since the end of 2018 after the song became hugely popular.
This isn’t the only company Musk has worked his Twitter magic on – in recent months he’s become Dogecoin’s number one ambassador.
The tech mogul has tweeted about the digital coin several times, most recently this morning, June 2.
Sharing an image with the famous Shiba Inu from the meme Dogecoin is based on, Musk joked, ‘Found this pic of me as a child’. Alongside the dog is a computer and the caption, ‘I have to keep my passion hidden from the public or I’ll be socially ostracized.’
Almost straight after sharing the tweet, Dogecoin jumped up 21% to 39 cents, Market Insider reports.
Since the beginning of the year, the value of the cryptocurrency has soared more than 9,000%.
Featured Image Credit: PA Images/Pinkfong
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